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New Mexico Statutes Chapter 7. Taxation § 7-14-10. Distribution of proceeds

Current as of January 01, 2024 | Updated by Findlaw Staff

The receipts from the tax and any associated interest and penalties shall be deposited in the “motor vehicle suspense fund”, hereby created in the state treasury. As of the end of each month, the net receipts attributable to the tax and associated penalties and interest shall be distributed as follows:

A. fifty-nine and thirty-nine hundredths percent to the general fund;

B. twenty-one and eighty-six hundredths percent to the state road fund; and

C. eighteen and seventy-five hundredths percent to the transportation project fund.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 7. Taxation § 7-14-10. Distribution of proceeds - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-7-taxation/nm-st-sect-7-14-10/

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